Fed, Trump
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6hon MSNOpinion
Trump is close to naming the new Federal Reserve chief. His choice could raise the risk of stagflation
The stagflation crisis of the 1970s stands as a clear warning of what might happen if the Fed’s independence is compromised.
Trump accused the central bank of restraining economic growth by keeping borrowing costs higher than he prefers.
The court has cited what it calls unique qualities that distinguish the Federal Reserve from other agencies and leave it independent of direct presidential control.
President Donald Trump said Sunday he has decided on his pick for the next Federal Reserve chair after making clear he expects his nominee to deliver interest-rate cuts.
Just The News on MSN
Trump urges next Federal Reserve chair to seek his opinion on interest rates
Trump also said that he would like to see interest rates at one percent or lower by this time next year. The current interest rate ranges from 3.5% to 3.75% as of Wednesday.